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Question(s) / Instruction(s):

Non-trade receivables should be reported separately from trade receivables.  Why is this    statement either true or false?

  1. It is true because trade receivables are current assets and non-trade receivables are long term.
  2. It is false because all current receivables must be grouped together in one account.
  3. It is true because non-trade receivables do no result from business operations and should not be included with accounts receivable.
  4. It is false because management can decide how to report receivables.

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